俄羅斯正處於一個重大的經濟轉折點，這是由於軍事支出高漲和日益增長的能源危機而負擔。

隨著財政資源的減少，烏克蘭衝突的成本變得難以忍受。在2025年，軍事支出的增加和能源收入的下降使該國面對前所未有的經濟挑戰。

As financial resources dwindle and the cost of the conflict in Ukraine becomes unbearable, Russia is at a major economic turning point. Soaring military spending and a growing energy crisis are putting immense pressure on the government's budget. In 2025, the increase in military spending and the drop in energy revenues could put the country face to face with an unprecedented economic challenge.

隨著財政資源的減少和烏克蘭衝突的成本變得難以忍受，俄羅斯正處於一個主要的經濟轉折點。軍事支出飆升和不斷增長的能源危機在政府的預算上施加了巨大的壓力。在2025年，軍事支出的增加和能源收入的下降可能會使該國面對前所未有的經濟挑戰。

An explosion in military spending and a rapidly growing deficit

軍事支出的爆炸和迅速增長的赤字

Since the beginning of the conflict in 2022, Russia has concentrated its economic resources on its military spending, fundamentally altering the structure of its economy. The absolute priority given to military spending has had direct consequences on state finances.

自2022年沖突開始以來，俄羅斯將其經濟資源集中在軍事支出上，從根本上改變了其經濟結構。給予軍事支出的絕對優先事項對國家財政產生了直接影響。

This financial imbalance illustrates the growing impossibility of sustaining a prolonged war and seeking to maintain economic stability in the face of external pressures.

這種財務失衡表明，面對外部壓力時，不可能維持長期戰爭並尋求維持經濟穩定的可能性。

The effect of sanctions and the erosion of energy revenues

制裁的影響和能源收入的侵蝕

Russia, historically dependent on its hydrocarbon exports to finance its economy, today sees its energy revenues significantly eroded, a direct consequence of international sanctions and falling oil and gas prices.

從歷史上看，俄羅斯依賴其為經濟融資的碳氫化合物出口，今天看到其能源收入大大侵蝕，這是國際制裁以及石油和天然氣價格下跌的直接結果。

Currently, oil and gas exports no longer suffice to cover the extent of military expenditures, creating unprecedented pressure on Russian finances.

目前，石油和天然氣出口不足以覆蓋軍事支出的程度，從而對俄羅斯財政造成了前所未有的壓力。

This situation highlights the fragility of the Kremlin’s economic model, which relies heavily on revenues from an energy sector whose profitability is now undermined by external constraints.

這種情況凸顯了克里姆林宮經濟模式的脆弱性，該模型在很大程度上取決於能源部門的收入，該能源現在因外部限製而破壞了盈利能力。

The decline in exports and stagnation in global commodity prices put Russia in a delicate position, where economic diversification becomes increasingly urgent yet difficult to achieve, given the intensification of military conflict.

鑑於軍事衝突的加劇，全球商品價格的出口和停滯在全球商品價格中的停滯使俄羅斯處於微妙的位置，經濟多樣化變得越來越迫切但難以實現。

The repercussions of this economic crisis are deep and multifaceted. Experts stress that without a return to stability on the geopolitical front or a swift resolution of the conflict, Russia could find itself in a spiral of hyperinflation, leading to a deterioration in the quality of life for its citizens and a potential collapse of the domestic economy. The tightening of sanctions and the fragility of the energy market threaten to prolong this period of stagnation, with possible consequences for social cohesion and government legitimacy.

對這種經濟危機的影響是深刻而多方面的。專家們強調，如果沒有在地緣政治陣線上恢復穩定或迅速解決衝突的情況下，俄羅斯可能會發現自己處於過度通貨膨脹的螺旋式上，從而導致其公民的生活質量惡化，並可能導致國內經濟崩潰。制裁的收緊和能源市場的脆弱性有可能延長這一停滯時期，這可能會對社會凝聚力和政府合法性造成後果。